Staffing Industry And Affordable Care Act Reporting

The Affordable Care Act applies to all firms that employ 50 or more people. Employers not offering health insurance must pay a shared responsibility amount if the government has to subsidize an employee's healthcare. For the staffing industry, this represents extensive record-keeping, reporting, and even process adjustments. 

Based upon what we know now, one thing is clear – staffing businesses will have to produce an extensive set of reports in order to understand their financial position and to figure out who is eligible. Companies that store this type of data electronically will simply have to design the appropriate reporting. 

Some authorities predict that ACA could ultimately be a boon for temporary staffing companies. Companies will decide to hire employees through a temporary staffing agency in order to avoid any health-cost obligations that they may incur as the direct employer. You can get proficient  ACA reporting assistance to get intuitive step-by-step guidance to ACA compliance.

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For temporary workers, even if they work full-time on a weekly basis for a number of months, they would not be eligible for insurance because of the look-back period. In that respect, the rules were written very favorably in view of the temporary industry. 

A large number of temporary services offer health insurance coverage for steady employees so it is likely that besides the increased record keeping and reporting, temporary service firms may find that it is "business as usual". A temporary firm may get more business to help companies manage temporary workers when companies are daunted by the complexity of the Affordable Care Act. This means that temporary service companies that are well-prepared will prosper.